Rate Leading Long-Term CDs at Wings Financial Credit Union


Deal Summary: Certificates – 5-year (1.36% to 1.51% APY), 4-year (1.16% to 1.31% APY), 3-year (1.06% to 1.21% APY), Minimum deposits range from $500 to $250k. Rates are accurate as of 9/18/2020.

Availability: Easy Membership Requirement

It has been more than four years since my last post on Wings Financial Credit Union (Wings Financial). During that time, Wings Financial’s Certificate rates haven’t been high enough to be blog worthy. That has changed as rates at other banks and credit unions have fallen to all-time lows. Wings Financial’s Certificates with 3-, 4- and 5-year terms are currently rate leaders or near the rate leaders for nationally-available CDs.

Another thing that has changed in the last four years is the addition of a super jumbo tier that requires a minimum deposit of $250k. The minimum deposit requirements for the lower tiers are $100k, $10k and $500. Currently, the rate goes up by 5 basis points for each increasing tier balance.

1.11*%$250k-Wings Financial Credit Union5 Year Dividend Paid Monthly Certificate
OTHER TIERS: 1.06% $100k - $250k
1.01*%$250k-Wings Financial Credit Union4 Year Dividend Paid Monthly Certificate
OTHER TIERS: 0.95% $100k - $250k
0.90*%$250k-Wings Financial Credit Union3 Year Dividend Paid Monthly Certificate
OTHER TIERS: 0.85% $100k - $250k
Rates as of June 12, 2021.

The 5-year Share Certificate is also available as an IRA (Traditional, Roth, and CESA), with the same rate tiers and minimum deposit requirements.

Unfortunately, these long-term Certificates have a harsh Early Withdrawal Penalty. As stated on Wings Financial’s FAQ, the Early Withdrawal Penalty reads as follows:

Term less than 24 months = Loss of amount equivalent to 6 months’ dividends (180 days)

Term 24 months or greater = Loss of amount equivalent 2 years’ dividends (730 days)

Other Noteworthy Deposit Products

High Yield Savings Account

In today’s environment, even the high yield savings accounts at online banks shouldn’t be called high yield. Most all now have rates under 1%. That’s no different than Wings Financial’s High Yield Savings Account. Even though you may not consider the rates of the Wings Financial High Yield Savings Accounts as “high”, they are currently competitive with the rates of savings accounts of the online banks for large balances. Like the CDs, the maximum balance tier is $250k. The rate goes down significantly for the smaller tiers.

0.50*%$250k-Wings Financial Credit UnionHigh Yield Savings
OTHER TIERS: 0.10% Up to $10k | 0.30% $10k - $50k | 0.40% $50k - $250k
Rates as of June 12, 2021.

Like most savings accounts at online banks, Wings Financial High Yield Savings Account has no minimum balance required to open, and it has no minimum balance required to avoid a monthly fee.

High-Yield Checking Account

Another noteworthy deposit product is a reward checking account (RCA) called High-Yield Checking. It’s rare for large institutions to offer an RCA. The only other large credit union (with $6+ billion in assets) with a noteworthy RCA is Lake Michigan Credit Union. The High-Yield Checking Account doesn’t have the best RCA rate, but if the current rate and balance cap can hold in this ultra-low rate environment, it will still be a good deal.

1.76*%-$25kWings Financial Credit UnionHigh Yield Checking
OTHER TIERS: 0.05% $25k+
Rates as of June 12, 2021.

The monthly requirements to earn the top rate are as follows:

  • You must have $300 in direct deposit
  • You must be enrolled in eDocuments
  • You must make at least 15 debit card transactions each month.

I’ll have more details on the High-Yield Checking Account in a future post.


Headquartered in Apple Valley, Minnesota, Wings Financial Credit Union’s field of membership includes virtually anyone:

Easy Membership: As stated on Wings Financial’s online application, “I would like to become a member of Wings Financial Credit Union by making a donation of at least $5 to the Wings Financial Foundation."

Residency: In the last four years, Wings Financial has expanded its geographical eligibility to include parts of Georgia, Michigan and Florida.

Anyone who lives or works in the following regions is eligible to become a member:

  • one of several eligible Minnesota or Wisconsin counties
  • Seattle-Tacoma, WA metro area
  • Detroit, MI metro area
  • Orlando, FL metro area
  • Atlanta, GA metro area

Employment: Individuals who work or have worked in the aviation industry nationwide qualify for membership.

Relationship: Immediate family members of current Wing Financial members are eligible to join.

Joining Wings Financial and opening a Share Certificate can be done online or at any of 28 branches located in Florida, Georgia, Michigan (2), Minnesota (23), and Washington.

Credit Union Overview

Wings Financial Credit Union (NCUA Charter # 68601) has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 2.55% (excellent) based on June 30, 2020 data. In the past year, Wings Financial has increased its total deposits by $711 million, an excellent annual growth rate of 16.4%. Please refer to our financial overview of Wings Financial Credit Union for more details.

Wings Financial Credit Union was originally founded in 1938 as Northwest Airlines Credit Union by seven airline employees. In the past ten years, Wings Financial has done multiple acquisitions. The latest acquisition announcement was in February when an agreement was reached with Neighborhood National Bank to acquire the bank and its six Minnesota branches. The acquisition was expected to close in the third quarter of this year.

Wings Financial has grown to be the nation’s 34th largest credit union, with over 295,000 members and assets in excess of $6.1 billion.

How the 5-Year Certificate Compares

When compared to the 197 similar length-of-term CDs tracked by DepositAccounts.com that are available nationwide, Wings Financial Credit Union's 5-year Share Certificate currently ranks second, regardless of minimum deposit. Note, Barksdale FCU’s CDs are available nationwide, but membership into Barksdale FCU is primarily limited to those with a military connection.

The above rates are accurate as of 9/18/2020.

To search for the best CD rates, both nationwide and state specific, please refer to our CD Rates Table page.

Related Pages: Detroit CD rates, Atlanta CD rates, Orlando CD rates, Minneapolis CD rates, Duluth CD rates, Fargo CD rates, Seattle CD rates, 5-year CD rates, nationwide deals

  |     |   Comment #1
I think I will be joining them soon but for their 12 mo. 0% no fee balance transfer card and the credit card funding of new accounts with a 2% cash back card.
  |     |   Comment #2
Loss of TWO YEARS dividends??!! There is no way I would tie up $250K for FIVE years with that kind of ewp. No way.
  |     |   Comment #3
And any amount over 250k not FDIC insured
  |     |   Comment #4
Wings is a credit union. And no amount is FDIC insured.
  |     |   Comment #5
To correct, NCUA not FDIC insurance. ALAN1 is like the grade school teacher.

One route in this low rate environment is to go the account bonus route. Earned $200 bonus with Chase opening a savings account and $400 from Keybank opening savings account and making 1 $500 deposit. Looking into others. Only going for bonuses that do not require much work.
  |     |   Comment #6
As to Rickny's claim that "any amount over 250K" is not insured (see Comments #3 and 5):

That would be true if Wings Financial Credit Union prohibited the designation of beneficiaries and prohibited joint accounts. However, Wings Financial offers joint accounts. Wings Financial permits Payable on Death (POD) beneficiary designations.

see "Account Agreement & Disclosure" sections titled "Joint Accounts" and "Payable on Death (POD) Beneficiary Designations" at p. 4 of PDF at

Therefore, amounts over $250,000 can be NCUA insured. It's up to the member as to whether to take advantage of that.
  |     |   Comment #7
I would never at these rates open a CD with a 250k minimum.

I also never have more than 250k in any single bank. I like to keep things as simple as possible to ensure I have bo problems if issues arise at an institution. Been through a few FDIC bank takeovers and have had accounts cashed out by the FDIC and gotten the funds in less than a week.

Still looking at Bonus offers in this low rate environment.
  |     |   Comment #8
Correct. A trust account can get you well over $250K of coverage (if the FI will allow an account to be titled in the name of a trust).
  |     |   Comment #9
Actually, I believe the interest for this CD at $250,000 is paid out monthly. For this one, Wings specifies "Dividend Paid Monthly." I'm pretty sure they mean "paid out." If not, you can set it up to do that anyway. With that, any risk would be limited to no more than the interest accrued so far that month. The difference between the rate and that APY is 1.50% vs. 1.51%, still leaving it as top rate.
  |     |   Comment #10
Dividend (interest) paid monthly into the balance of CD.
May possibly be withdrawn without penalties.? IDK
Wings Financial CU Offers Competitive 5-Year CD
Availability: Easy Membership Requirement

Earlier this year, Wings Financial Credit Union (Wings Financial) added a 5-year Share Certificate with three rate tiers: 1.96% APY ($500), 2.02% APY ($10k), and 2.07% APY ($90k). Earned dividends can be paid on either a monthly or quarterly basis.

The 5-year Share Certificate is also available as an IRA (Traditional, Roth, and CESA), with the same rate tiers and minimum deposit requirements.

As stated on Wings Financial’s Most Requested Info page, the Early Withdrawal Penalty reads as follows:

Term 12 months or greater...

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CD Rates Fall But Are Still Competitive at Wings Financial Credit Union

We lost another two-percent 5-year CD. Wings Financial Credit Union cut all of its CD rates yesterday, and its 5-year CD yield fell from 2.12% to 1.96%. Like at other credit unions and banks, the 5-year CD rate has fallen the most this year at Wings. The 5-year CD rate has fallen 35 basis points this year whereas the 2-year CD rate has fallen only 15 basis points.

Even though the rates have fallen, Wings Financial's CD and IRA CD rates are still competitive. Below is a list of the most...

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Top CD Rates at Wings Financial Credit Union - Limited Membership

Wings Financial Credit Union continues to offer competitive CD and IRA CD rates. Rates have slowly fallen, but they have fallen less than many other credit unions. Below is a list of the most competitive rates as shown on the credit union's rates page as of 5/2/2012:

  • 2.22% APY 5-year CD
  • 1.86% APY 4-year CD
  • 1.71% APY 3-year CD
  • 1.31% APY 2-year CD

Minimum deposit is $500. According to the account disclosure, the early withdrawal penalty is 180 days of interest for terms over 1 year and 30 days of interest for terms of 1...

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New Higher CD Rates at Wings Financial Credit Union - Limited Membership

Wings Financial Credit Union did something that has been rare this year. It raised its CD rates. The rates went up by 15 basis points which makes it rates for CD terms of 2 to 5 years very competitive. These CD and IRA CD rates as listed at the credit unions rates page as of 2/19/2011 include:

  • 1.81% APY 2-year CD
  • 2.07% APY 3-year CD
  • 2.22% APY 4-year CD
  • 2.73% APY 5-year CD

Minimum deposit is $500. According to the CSR, the early withdrawal penalty is 180 days of interest for terms over 1 year...

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CD Special and Eligibility Update at Wings Financial Credit Union

Wings Financial Credit Union used to be only available to those employed in the air transportation industry. A couple of years ago they expanded eligibility to include anyone who lives in the Minneapolis-St. Paul Metro Area. Last year they continued to expand their field of membership to include anyone who lives in certain parts of the Seattle-Tacoma metro areas in Washington State.

It's nice to see this major credit union is becoming easier to join. Wings Financial used to offer very competitive CD and money market rates. The rates are not...

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